Reports will not show income accounts
Mike or Penny Novack
stepbystepfarm at mtdata.com
Sun Dec 16 09:31:38 EST 2007
>I then open the options on the report and select all assets
>
>
>
Walter, your problem might have nothing to do with GnuCash but instead
with accounting concepts
"income" accounts would NOT be "asset" accounts. In other words, this is
a wrong chart of accounts "assets:income:Salary". Instead, "salary"
should be of account type "income" (a temporary category. Let's say you
have just received a paycheck. The transaction recording that might
debit your checking account (the asset type account where you deposited
your paycheck) and credit your salary account (an income account,
technically a temporary account of type "equity" --- at the end of the
accounting period the temporary income and expense accounts are closed*
into equity). The only "standing" accounts (permanent accounts) are of
types asset, liability, and equity.
Might I suggest you use the tutorial to go over "accounting concepts".
GnuCash is an accounting TOOL. Use of a tool doesn't relieve you of
understanding the basics. It's a lot easier (a lot less work) to use an
autoposting system like GnuCash than to post entries by hand the old
fashioned way pen and ink on paper -- but you still have to understand
the basics. If the tutorial doesn't prove to be enough, you'll need to
read some books on basic accounting concepts.
Michael D Novack
* AFAIK the "autoclose" function of GnuCash does not yet exist. One of
the things I suspect I might get drafted to create for assuming my
organization approves using GnuCash.
--
There is no possibility of social justice on a dead planet except the equality of the grave.
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